VANCOUVER, British Columbia, March 30, 2020 (GLOBE NEWSWIRE) — Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the “Company” or “Algernon”) a clinical stage pharmaceutical development company, is pleased to announce that it has submitted for ethics approval in Australia for its planned Phase 2 study of its re-purposed drug NP-120 (Ifenprodil) for idiopathic pulmonary fibrosis (IPF) and chronic cough.Ethics submission is the next step in the company’s clinical development program of its re-purposed drug Ifenprodil for IPF and chronic cough. The company has also recently started to expand its investigation of Ifenprodil for acute lung injury (ALI) and COVID-19.Ethics approval can typically take 4 – 8 weeks, and once received, the planned Phase 2 study can begin. The expected study completion date may be delayed due to the global COVID-19 pandemic.“This is major milestone for the Company as it takes its first step in formalizing its model of re-purposing known safe drugs, investigating them in animal models for new diseases and moving them quickly and efficiently into Phase 2 clinical trials,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals Inc.Phase 2 Study Summary:CBJ Newsmakers